By John Hastings, National Managing Partner - Large Business

Financial literacy, particularly in the current economic climate, is important for all New Zealanders.  BNZ recognise this and have created a simple guide to improve financial literacy called “Managing your money made easy”.

The Centre for Financial Literacy, part of the Retirement Commission, provides a focal point for initiatives to improve New Zealanders’ financial literacy.  BNZ are a supporter of this organisation and the development of this guide is one of the ways we can help.

Although “financial literacy” might sound like a theoretical concept, it really requires a simple and practical approach to managing your money – and this is what BNZ has done.  This is an easy to use guide that you can share with your employees and family and friends.   

The online guide has four modules covering the following:
Banking basics –for people who are new to banking. This covers opening an account, ways to do your banking, how interest works and common banking language.

Budgeting and financial goal setting – thinking about the future and planning ahead. There are a number of worksheets and handy tips to find out where your money goes, set financial goals and put realistic plans in place to achieve them.

Saving and investing your money – the basics of successfully saving and investing so you’ll have a better chance of getting the things you want at any stage of your life.

Managing home loans and other debt – compare the costs and benefits of different ways to borrow, including home loans, personal loans, student loans and credit cards.

We’ve even drawn up a glossary of common banking and financial terms. This quick reference guide will help readers understand names and references used in each topic.

We encourage you to do your bit to help improve the financial literacy of New Zealanders by sharing this practical guide with as many people as you wish.  Click on this link to view the guide online: https://www.bnz.co.nz/Personal_Solutions/1,1184,1-375,00.html

By John Hastings, National Managing Partner - Large Business

At BNZ we’ve always seen our role as helping our clients realise their potential, capitalising on opportunities in the upturns and facing the challenges in the tough times. Times like these require strong business relationships and continued communication with clients.

Introducing BNZ Partners
Right now we’re taking the opportunity to reaffirm our commitment to supporting local businesses across the country with the recent launch of BNZ Partners.  BNZ Partners is a new way of working that puts your business first and banking second.

Your dedicated BNZ Partner works directly with you to really understand you and your business, be it business, agribusiness or private banking.  But crucially, he or she can connect you to an extended range of financial specialists, products and services. This approach will have real impact on what we can do for you, and how quickly we can do it.

We've set up regional BNZ Partner teams across New Zealand, each with a high degree of autonomy. This means we can help you make decisions for your business with a truly on the ground understanding of the environment you operate in.

Your local BNZ Partner
If you're an existing BNZ business, agribusiness or private bank client your BNZ Manager or Private Banker is still the same person – but they're now called a BNZ Partner. So you'll continue to receive the same personalised service and you still contact him or her for any of your banking needs. If you're new to BNZ we'll introduce you to a dedicated BNZ Partner who can offer the specific business, agribusiness or private banking expertise you require.

Put simply, through BNZ Partners we're offering our clients something no other bank is. Highly personalised, local service from a dedicated banking expert who has the specific skills you need. And this BNZ Partner can quickly source you specialist expertise across a broad spectrum of business and financial services. This new relationship service means we can help you and your business be even better off.

Working with our clients
In these tough economic times the goal of any business owner must be to make certain their business is robust and at the same time, well positioned to take advantage of opportunities when the economy improves.  Managing the ‘micro’ details of their business  - cash flow, production costs, and debtors will take care of the day to day, but investing in training can position the business for the future. That’s why our BNZ Partners are actively encouraging their clients  to review their skills and consider signing up to The ICEHOUSE business growth programmes.

We always encourage our clients to work closely with us – but especially so in these tough times.  If your current banker isn’t providing a tailored solution for your business or isn’t prepared to back a good opportunity then start looking at the alternatives, including speaking to BNZ Partners.

[To find out more about BNZ Partners call 0800 ASK BNZ (275 269) or contact John Hastings on 09-367 0851, 029-5124610 email: John_Hastings@bnz.co.nz]

John Hastings is National Managing Partner – Large Business, BNZ Partners. This article is intended as a general discussion only. The views expressed are his own and do not necessarily represent those of Bank of New Zealand or its related entities.